JPMorgan Intensifies Lawsuits Over ATM Glitch Fraud

JPMorgan Chase is intensifying efforts to recover funds lost in the 2024 'infinite money glitch,' a viral ATM scam where customers deposited fake checks and withdrew large sums before the checks bounced. While initial federal lawsuits targeted those who took the most money, the bank is now suing individuals in state courts for allegedly withdrawing under $75,000. One notable case involves a Georgia customer who withdrew $82,500 before a $73,000 check bounced, resulting in nearly $58,000 in unrecovered funds. Over 1,000 customers have received repayment letters, with litigation focused on the most egregious offenders and some individuals voluntarily returning the money. JPMorgan emphasizes that check fraud is a crime and is working with law enforcement to pursue perpetrators. The crackdown highlights ongoing risks in the U.S. banking system as other countries phase out paper checks.